Splurge vs. Purge

Dave supports the bail-out, which many are calling the Splurge. At this point, so do I. That puts me in the company of Warren Buffett and detaches me from Kevin Phillips, who says (below) that it won’t work. Elsewhere Kevin says it just cuts off one tentacle of an octopus. Maybe he’s right. From this report, it appears that McCain and some Republicans agree.

I trust Buffett. His wealth is a red herring here. What matters are his insight, intelligence, and ability to perform for stockholders — qualifications that are beyond dispute. Buffett knows better than anybody how the system works, how it’s broken — and (surely) how to make money on the upswing that inevitably follows the current collapse.

If Obama and Bush are together on this, so be it. Hey, maybe tonight we’ll have a real debate between Splurge (Obama/Bush/Buffett) and Purge (McCain/Phillips). Doesn’t look like it, but if both men are in command of their facts and ideas, it would help the country.